Healthcare Entrepreneurship and Management A Comprehensive Guide for Biomedical Engineers and Entrepreneurs

Post pandemic, the world is not the same place. There has been an increasing focus on healthcare and wellbeing, which has created a once-in-a-lifetime opportunity for healthcare innovations and start-ups. From adoption of a range of medical apps and telemedicine technologies, to heightened public interest in smart wearables and medical devices, the demand for efficient healthcare delivery has been skyrocketing. This book aims to serve as a first-of-its-kind guide for skill development in conception to commercialization of healthcare products and services. It covers the gamut from the study of healthcare challenges from understanding customer requirements, market needs, and competition to the various steps of the healthcare product development process such as defining value propositions and specifications, the creation of minimum viable product (MVP) to prototyping, and manufacturing. The authors also discuss key commercialization and management strategies including development of a robust business plan, fund raising, intellectual property, creating barriers to entry, and launching healthcare start-ups. Medical product pricing, positioning, sales and distributions, and customer acquisition are also presented with real life examples. This book serves as a key reference not only for biomedical engineers who are looking to launch their products or services in the market but also for budding entrepreneurs willing to explore opportunities in the healthcare domain. For example, engineers and managers working on the development of medical devices require knowledge of ethical guidelines, regulations, approvals to effectively launch their products in the MedTech industry. On the other hand, entrepreneurs looking to benefit from the booming healthcare industry will find this book helpful in understanding the fundamentals of medical product development and commercialization to launch their ideas successfully.